What is Right to Manage? – Property Management in the UK
Property Management in the UK – Right to Manage

Are you searching for property management in the UK? Do you need to know what Right to Manage is and how it can apply to you?

Estates Property Management encompasses all aspects of property management in our services.

This latest blog will explain everything you need to know on Right to Manage with Estates Property Management!

Property Management in the UK – Right to Manage

The Right to Manage (RTM) is a legal provision introduced in 2002 to give leaseholders the right to manage their building or development.

This means they can set up a unique company, known as a right-to-manage company, to take over the day-to-day management responsibilities from the landlord.

The Benefits of Right to Manage

The RTM provides significant benefits for leaseholders, as it allows them to have greater control over the management and maintenance of their property without requiring permission from the landlord.

They can also benefit from cost savings, as they may be able to negotiate better prices for services such as maintenance, insurance and repairs.

Right to Manage Responsibilities

However, exercising the RTM involves specific financial, legal and administrative responsibilities.

Leaseholders must be prepared to take on these responsibilities, which may require significant time, effort and expertise.

To qualify for the RTM, leaseholders must meet specific criteria. This includes the number of flats in the building, the length of their lease, and the percentage of leaseholders who wish to exercise the right.

The process can also be complex, requiring careful planning, consultation and legal advice.

The RTM provides an important right for leaseholders who wish to take control of their property management.

However, it is important to carefully consider the responsibilities and requirements before deciding to exercise the right.

Leaseholders should seek professional advice and guidance, such as that provided by the Leasehold Advisory Service, to ensure they fully understand the implications of the RTM and can make an informed decision.

Estates Property Management Right to Manage

Should you decide to use Estates to take on the administration and process of acquiring the Right to Manage of your block, we will not charge you a penny on the basis that you appoint us as the managing agent once RTM is achieved.

How can I start the Right to Manage process?

If you’re considering starting the Right to Manage process, communicating with your fellow leaseholders is the first step.

It’s important that everyone is aware of the intention to proceed and that all parties are in agreement.

Once everyone is on board, the Right to Manage process can commence. This can be a complex process, with various administrative requirements that must be followed to succeed.

This can include everything from forming a Right to Manage Company to serving the initial notice of claim.

It’s important to note that failure to follow the correct procedures can result in a failed attempt. So, seeking legal advice and guidance from a reputable property management company is advisable to ensure the process is handled correctly.

Once the Right to Manage process has been completed, the Right to Manage Company assumes responsibility for the management and maintenance of the building, taking over from the existing freeholder or landlord.

Get in touch!

For more information on property management in the UK, call EPM today on 03330 062 930 or email enquiries@estatespm.co.uk.